Old Mutual to rebrand and list wealth unit

Advice and Wealth Management will include United Kingdom financial adviser network Intrinsic, which will be rebranded as Quilter Financial Planning; the multi-asset business, which will become Quilter Investors; and Quilter Cheviot, which will retain its name.

Meanwhile, the discretionary unit, Quilter Cheviot, will retain its branding, but OMW's multi-asset business will become Quilter Investors.

The Wealth Platforms division will include OMW's United Kingdom platform, which will become Quilter Wealth Solutions and OMW's global business, which will be renamed Quilter worldwide. The Heritage life assurance business will become Quilter Life Assurance.

Last month, OMW announced net inflows of £7.3 billion over the first three quarters, taking funds under management up to £131.3 billion.

The businesses within these two segments will be re-branded to Quilter over a period of approximately two years following separation from Old Mutual and there will be no immediate changes for customers.

As part of this, he will confirm that Old Mutual Wealth remains on track to list on the stock exchange next year, "at the earliest opportunity" after Old Mutual's 2017 full year results.

"Having two distinct but strongly complementary segments will help us continue to deliver good customer outcomes for new and existing customers". We are focused on ensuring the businesses work together to build better solutions and drive integrated flows.

Meanwhile the multi-asset business will become Quilter Investors, the United Kingdom platform will become Quilter Wealth Solutions and the worldwide business will become Quilter global.

Mr Feeney said the company's recently announced flows, which increased 53 per cent to £4.9bn, showed there was strong demand for its services.

It has been reported that groups including Challenger and Macquarie Investment Management are engaged in a £550m bidding war for the single strategy part of OMGI.